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February 2014 Issue

More Investment, Activity for 2014-2020 FLNG Market
The floating LNG (FLNG) market is poised for increased investment and activity from 2014 to 2020, with Douglas-Westwood (DW) forecasting total expenditure of $64.4 billion in its new market report. Two-thirds of this spend is attributed to liquefaction infrastructure, with the remainder from import and regasification facilities.

The previous seven-year period saw minimal investment in floating liquefaction infrastructure, but now with the introduction of floating LNG vessels global FLNG Capex is expected to increase significantly over the next seven years.

Year-on-year growth over this period is forecast to average 64 percent per annum and DW expects the increase to be more pronounced after the successful start-up and operation of the pioneer FLNG vessels, such as Shell’s (The Hague, Netherlands) Prelude FLNG and Petronas’s (Kuala Lumpur, Malaysia) PFLNG 1.

DW anticipates that more floating regasification units are to be sanctioned, particularly in Asia and Latin America. In North America, however, the discovery of large supplies of shale gas has resulted in the shut-down of many of its operational terminals and the cancellation of upcoming import facilities. This development should see the reversal of North America’s traditional status as a net gas importer to that of an exporter.

When compared to its onshore alternative, FLNG offers higher security, a cheaper alternative, shorter lead time and the ability to monetize stranded gas fields. While there are inherent risks, FLNG is undoubtedly a prospective market that in the long-run is poised to drive many future gas developments, according to DW.


Nominations Open for NOIA Safety in Seas Awards
Nominations are now being accepted for the 2014 NOIA Safety in Seas (SIS) Awards. Beginning this year, NOIA will confer two distinct safety awards: The Safety Practice Award and the Culture of Safety Award.

Nomination forms and awards criteria are available online at www.noia.org/safety-in-seas. Nominations are due March 3, 2014.

Nominations will be judged by an independent panel from the U.S. Coast Guard, the National Academy of Sciences, and the Bureau of Safety and Environmental Enforcement. The winners will be announced during the NOIA Annual Meeting in Washington, D.C., April 9 to 11, 2014.


GE Opens Logistics Base in Rio de Janeiro
GE Oil & Gas (Firenze, Italy) has opened a logistics base for the Brazilian oil and gas sector. With an area of 590,000 square feet and investments that exceed $100 million, GE’s base in Niteroi in Rio de Janeiro was designed primarily to load and unload installer ships. These vessels carry heavy equipment, such as giant reels of flexible pipes, and target the mobilization and maintenance of oil wells.

The new base will serve Petrobras (Rio de Janeiro, Brazil), a strategic client and partner of GE Oil & Gas in Brazil. The base also is strategically located nearby the Santos Basin in the Brazilian pre-salt area.


Shell Acquires LNG Portfolio Outside North America
Royal Dutch Shell plc (The Hague, Netherlands) successfully completed the acquisition of Repsol S.A.’s (Madrid, Spain) LNG portfolio outside North America for a headline cash consideration of $4.1 billion. As part of the transaction, Shell will also assume $1.6 billion of balance sheet liabilities relating to the existing leases for LNG ship charters, substantially increasing the shipping capacity available to Shell’s world-class LNG marketing business.

The deal gives Shell an additional 7.2 million tonnes per annum of directly managed LNG volumes. The company’s portfolio will be boosted with LNG supply in the Atlantic from Trinidad & Tobago, and in the Pacific from Peru.


Light Structures to Monitor Load, Fatigue for LNG Facility
Light Structures (Oslo, Norway) has won the contract to provide the critically important Load & Fatigue Monitoring Solution for the $2.7 billion Ichthys LNG Central Processing Facility (CPF), currently under construction by Samsung Heavy Industries (Seoul, South Korea). Light Structures’s solution will help the Ichthys operating partners monitor and maintain the structural integrity of the enormous CPF, forming the cornerstone of key repair and maintenance tasks as it enters its 40-year operational lifecycle. Light Structures’ Load & Fatigue Monitoring system will utilize an array of sensors, connected by zero-power fiber-optic cables, to continually harvest data relating to the loads working on the structure of the CPF, which, at 110 by 110 meters, is the largest semisubmersible platform ever built. Based on this data, analyses and calculations will be undertaken to monitor fatigue development across crucial structural areas. The CPF is to enter operation in 2016 and work alongside an FPSO at the Browse Basin Field, 440 kilometers north of Broome, Australia.


Reamco Opens Office in Aberdeen
Reamco Inc. (Broussard, Louisiana) has opened a business development office in Aberdeen, Scotland, to enable Reamco to better communicate with existing clients and aid in obtaining new business throughout the region. The office will be responsible for business development in the North Sea, Europe, Middle East and Africa. Jamie Shepherd is tasked with developing the Aberdeen office.


Nautronix Makes Delivery for Rowan Drillships
Nautronix (Aberdeen, Scotland) has delivered the first two NASDrill RS925 and NASeBOP (Emergency BOP Acoustic Control) systems from their current order of four systems for two of Rowan Companies’ (Houston, Texas) new ultradeepwater drillships, the Rowan Relentless and the Rowan Reliance. The total contract value is worth approximately $10 million. These systems are among the first of their type to be certified to comply with ABS’s new Integrated Software Quality Management (ISQM).


2014:  JAN | FEB | MARCH | APRIL | MAY | JUNE | JULY | AUG
2013:  JAN | FEB | MARCH | APRIL | MAY | JUNE | JULY | AUG | SEPT | OCT | NOV | DEC

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